Financial News: Swiss Trade Surplus Shrinks In November

Swiss Trade Surplus Shrinks In November

12/19/2024 - 02:55:00 (RTTNews)

(RTTNews) - Switzerland's foreign trade surplus decreased notably in November as exports fell much faster than imports, data from the Federal Customs Administration showed on Thursday.

The trade surplus decreased to CHF 4.0 billion in November from CHF 6.0 billion in October.

In real terms, exports plunged 10.8 percent over the month, reversing an 11.4 percent decrease in October. Imports decreased 2.8 percent, which was the first fall in three months.

In nominal terms, both exports and imports declined by 11.0 percent and 3.6 percent, respectively.

The export decline was mostly from the chemicals and pharmaceuticals segment, which slumped 16.6 percent from last month.

Shipments of food, drinks, and tobacco decreased by 12.2 percent over the month, and those of machines and electronics slid by 7.3 percent.

According to the Federation of the Swiss Watch Industry, watch exports dropped 3.8 percent annually in November. The overall decline was mainly driven by 5.8 percent lower shipments of steel watches.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

South Korea Producer Price Inflation Rises To 5-Month High (04 min(s), 47 sec(s) ago)
(RTTNews) - South Korea's producer price inflation accelerated for the second straight month i ...Full Story»

European Economic News Preview: UK Labor Market Data Due (54 min(s), 47 sec(s) ago)
(RTTNews) - Labor market data from the UK and economic sentiment from Germany are the top economic ...Full Story»

Moldova Industrial Production Decline Eases In November (46 min(s), 13 sec(s) ago)
(RTTNews) - Moldova's industrial production contracted for the fourth straight month in Novemb ...Full Story»

Luxembourg Jobless Rate Steady At 5.9% (06 min(s), 13 sec(s) ago)
(RTTNews) - Luxembourg's unemployment rate held steady for the second straight month in Decemb ...Full Story»

Greece Current Account Deficit Narrows In November (21 min(s), 13 sec(s) ago)
(RTTNews) - Greece's current account deficit declined in November due to an improvement of the ...Full Story»

Eurozone Construction Output Expands 1.2%, Strongest Since Early 2023 (57 min(s), 13 sec(s) ago)
(RTTNews) - Eurozone construction production grew at the fastest pace in nearly two years in Novem ...Full Story»

UK House Prices Rise Most Since 2020: Rightmove (43 min(s), 13 sec(s) ago)
(RTTNews) - UK house prices increased the most since 2020 and new sellers coming to the market hit ...Full Story»

Italy Construction Output Grows Most In 10 Months (23 min(s), 13 sec(s) ago)
(RTTNews) - Italy's construction output increased for the third straight month in November, ac ...Full Story»